U.S. stock futures pointed to drop once trading begins following a brutal week that pushed the S&P 500 to the brink of a bear market. Dow Jones Industrial Average futures implied a drop of 115 points as of 8:45 a.m. ET Monday. Dow futures earlier fell as much as 230 points. S&P 500 futures and Nasdaq 100 futures also pointed to weak open.

Leading exchange BSE on Friday said it would launch weekly dollar-rupee futures and options contracts on July 30, a move that would help increase liquidity in the market. Currently, monthly contracts are available on all approved currency pairs, including USD-INR currency pair. Regulator Securities and Exchange Board of India (SEBI) has approved introducing weekly contracts on USD-INR futures and options.